Gujarat Pipavav Port (APM Terminals Pipavav), has got an interim dividend of Rs 38 million (5 per cent) from Pipavav Railway Corporation (PRCL) on October 23 at Mumbai. The dividend is a historic first for Indian Railway's flagship infrastructure company under Public Private Partnership (PPP).
APM Terminals operates Pipavav Port. PRCL is a joint venture company between Indian railways and Gujarat Pipavav Port under the PPP model to undertake construction, operation and maintenance of the Surendranagar, Gujarat Pipavav Port, rail connectivity project, spanning 271 km.
The dividend cheque for the current financial year was handed over to Dinesh Lal, director of APM Terminals Pipavav by Pankaj Malviya, MD of PRCL.